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MN SF320

Bill

Status

Introduced

1/22/2019

Primary Sponsor

Jason Isaacson

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Origin

Senate

91st Legislature 2019-2020

AI Summary

  • Amends Minnesota Statutes section 16A.103 to require state budget forecasts to include expenditure estimates for inflation and variables outside legislative control.

  • Removes the prohibition that prevented expenditure estimates from including an allowance for inflation, allowing inflation adjustments in forecasts.

  • Requires the commissioner to determine inflation rates, debt service calculations, investment income, and other forecast variables in consultation with senate State Government Finance Committee and house Ways and Means Committee chairs, lead minority members, and legislative fiscal staff.

  • Mandates consultation occur at least three weeks before forecast release, with the commissioner informing relevant legislative leaders no later than two weeks before release of any changes in forecast variables from the previous forecast.

Legislative Description

State budget forecast inflation adjustment requirement

Last Action

Referred to Finance

1/22/2019

Committee Referrals

Finance1/22/2019

Full Bill Text

No bill text available